Atal yojana pension

Atal yojana pension-scheme launched by Govt of India

Atal yojana pension benefits

Atal Pension Yojana benefit for husband and wife: Not many are aware of the fact that APY not just provides guaranteed pension up to Rs 5000/month to eligible subscribers but also allows eligible subscribers from his/her family to apply for the same.

Atal Pension Yojana husband and wife

APY guarantees pension up to Rs 5000/month.
Atal Pension Yojana benefit for husband and wife: Not many are aware of the fact that Modi government’s Atal Pension Yojana (APY) not just provides guaranteed pension up to Rs 5000/month to eligible subscribers but also allows eligible subscribers from his/her family to apply for the same. This means more than one member of the same family can apply for APY. The starting age to apply for APY is 18. Starting at this age, one can get a guaranteed pension of Rs 5000 per month by investing just Rs 210 per day till the age of 60. Even married couple aged below 39 years can apply for the scheme separately. Together they can ensure Rs 10,000 per month pension after reaching the age of 60. Here’s a look at how much they need to invest:

If a married couple aged 30 years each apply for APY, they need to contribute Rs 577 per day separately in their respective APY accounts. Their combined daily contribution towards respective APY accounts comes to Rs 577×2/30= Rs 38.4.

If a married couple is aged 35, then they would need to invest Rs 902/month separately in their respective APY accounts. Their combined daily contribution towards their respective APY accounts would be Rs 902×2/30=Rs 60.1.

Not just the monthly guaranteed pension, spouse of Atal Pension Yojana subscriber receives up to Rs 8.50 lakh after the death of the subscriber. Also, in case of death of the subscriber, the spouse receives the same amount of pension for life.

Who can apply for Atal yojana pension APY?

Any Citizen of India can subscriber to APY if his/her age is between 18 – 40 years. The applicant should have a savings bank account/post office savings bank account. The applicants are asked to provide Aadhaar and mobile number by the bank during registration to facilitate receipt of periodic updates on APY account. Aadhaar is, however, not mandatory for enrolment, according to NPS Trust.


The Atal Pension Yojana (APY) is open to all Indians between 18 and 40 years of age.  It allows an individual to contribute for at least 20 years before receiving the benefit of the scheme.  Any bank account holder who is not a member of any statutory social security scheme can avail the scheme.

 Atal Pension Yojana or NPS

Further, investment up to ₹ 50,000 in the Atal Pension Yojana or NPS is deducted from the taxable income under Section 80CCD (1B) of the Income Tax Act, 1961.  ... 6) The sooner you join the Atal Pension Scheme, the less it will be.  Monthly /quarterly/half-yearly contribution that you have to make to get a fixed monthly pension.

Atal yojana pension-scheme

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 Atal Pension Yojana account 

A customer can go to his bank or post office and withdraw pension from his Atal Pension Yojana account after the age of 60 years.  Before the age of 60, one can withdraw from APY only in cases of terminal illness or death.

Atal Pension Yojana (APY), a pension scheme for citizens of India, focuses on the unorganized sector workers.  Under APY, the minimum pension is Rs.  1,000 / - or 2,000 / - or 3,000 / - or Rs. 4,000 or 5,000 / - per month will be given based on a contribution by customers at the age of 60 years.

APY aims to help unorganized sector workers save money for their old age while they are working and guarantee return post-retirement.  Atal Pension Yojana is a periodic contribution-based pension scheme and promises a fixed pension of 1000 / Rs 2000 / Rs 3000 / Rs 4000 / Rs 5000

Atal Pension Yojana  launched by the Government of India

Both NPS and APY are pension schemes launched by the Government of India  ... Under NPS, there is no upper ceiling for investment, therefore, if your pension requirement is more than Rs 5000 / month, then NPS is the best option.  Besides, there are no tax benefits with APY.

PPF funds are also used by the government.  As a result, it takes almost no risk of default.  The NPS or National Pension System Return depends on the performance of the NPS fund.  The table below will give you the performance of NPS Equity Fund

National Pension System (NPS) and Atal Pension Yojana (APY) 

No person in NPS can maintain two separate accounts.  There is a limit of contribution for APY depending on the age of the customer and the pension amount you choose.  You will not have the option to invest more money in your APY.


Further, from FY 2015-16, you can add Rs.  One can invest an additional amount of 50,000 (or more) and claim a tax deduction on the same, subject to a maximum of Rs.  50,000 is subject to.  You will note that the NPS is now the only investment vehicle that allows you this additional tax deduction under Section 80 CCD (1B).


National Pension System (NPS) and Atal Pension Yojana (APY) are two options for you.  Both are government-run pension schemes with various facilities.  While the Atal Pension Yojana focuses on the unorganized sector, the NPS is for everyone.  Apart from this, entry age, contribution returns, and tax treatment are also different.